AGENDA | Our curation of the must-read news and analysis from the-week-that-was in the global renewable energy industry
24 March 2023 17:44 GMT Updated  24 March 2023 17:44 GMT
The week ended with another of those big bang moments in the fast-expanding universe of floating wind power when Scotland unveiled the winners of its INTOG seabed leasing round dominated by plans to decarbonise offshore oil & gas production. The runaway winners were Cerulean Winds and the alliance of Flotation Energy and Vargronn, which can now advance plans to help shift green power to North Sea fossil assets under pre-lease exclusivity offers from the Crown Estate Scotland – barely a year after it set the floating sector alight with its giant ScotWind round. The two development teams are bullish about their prospects to help achieve that ambition, but as one leading analyst told Recharge , the challenges involve mean electrifying offshore oil & gas is “not for the faint hearted”. And there was little sympathy for the whole process from climate campaigners who judged the entire exercise little more than ‘greenwashing’ that “tinkers around the edges” of North Sea emissions reduction. The prospects of Chinese wind OEMs in international markets loomed large in Recharge’s reporting all week, not least when RWE CEO Markus Krebber warned the EU that the Asian giant’s offshore turbines might be the only game in town unless action was taken to spur the European supply chain. Article continues below the advert
Proof that China’s turbine makers are these days about more than commodity machines at low prices came when Mingyang unveiled a large-scale blade fabricated almost entirely from recycled materials, the first such model in Asia. Security of supply has stolen most of the energy policy thunder since Russia invaded Ukraine, but the climate emergency came roaring back this week as the UN secretary general called on nations to speed up their net zero drives by 10 years to get the world’s emissions fight back on track. The good news came from the Energy Transitions Commission (ETC) think-tank that there are no “fundamental barriers” to getting to net zero by 2050 – just the small matter of a $110 trillion investment bill. And confirmation that renewables are doing their bit came with news from the International Renewable Energy Agency of a near 10% expansion in green power facilities in 2022, despite the economic pressures linked to the global energy crisis. Recharge is part of DN Media Group. To read more about DN Media Group, click here
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Scotland's new floating wind big bang, China looms large and climate roars back

In 2022, the annual global renewable energy generation capacity increased by 9.6% or 295 GW with solar PV leading the pack at 191 GW reflecting 22% YoY improvement followed by wind energy adding 75 GW or 9% more annually, according to the International Renewable Energy Agency (IRENA). Since concentrated solar power (CSP) added only 125 […]

Global Renewable Power Grew By 295 GW In 2022

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Global renewables industry defies energy crisis to deliver a record 295GW of new capacity, but industry warned step change in deployment rates still required
Global renewable energy capacity grew by a record 9.6 per cent last year to 3,372GW, according to new figures from the International Renewable Energy Agency (IRENA) that confirm clean technologies continued to dominate the pipeline of new energy projects worldwide. The agency's Renewable Capacity Statistics 2023 report yesterday revealed that 295GW of renewable power capacity was brought online in 2022, accounting for 83 per cent of all new power capacity added last year. The performance was driven by significant growth in Asia where 141GW of new capacity was added in China alone, helping to take Asia's total renewables capacity to 1.63TW of capacity. . Renewables capacity in Europe and North America grew by 57.3GW and 29.1GW, respectively, while Africa added 2.7GW of capacity, delivering a marginal year-on-year increase. Moreover, Oceania saw 5.2GW of new capacity come online and South America continued an upward trend with 18.2GW of capacity added. Although hydropower continues to account for the largest share of total renewables capacity with 1,250GW, solar and wind continued to dominate new generating capacity. IRENA found that the technologies together contributed 90 per cent of all new renewable capacity in 2022, with the global solar market growing by 22 per cent and the wind energy market growing nine per cent. Francesco La Camera, director general at IRENA, said the "continued record growth shows the resilience of renewable energy amidst the lingering energy crisis". "The strong business case of renewables coupled with enabling policies has sustained an upward trend of their share in the global energy mix year on year," he added. "But annual additions of renewable power capacity must grow three times the current level by 2030, if we want to stay on a pathway limiting global warming to 1.5C." "As energy demand is expected to rise in many regions of the world, the energy transition requires a step-change that delivers a strategic shift beyond the decarbonization of the supply side. Any expansion of new non-renewables capacity in light of recent global events must be connected to efforts to accelerate the energy transition to make the system more resilient, inclusive and climate-proof." The latest figures from IRENA mirror recent updates on the UK energy market underscoring how renewables have helped to reduce reliance on imported fossil gas over the winter. According to the ECIU, renewables overtook gas to become the biggest single source of power on the UK grid this winter, with power generated by wind, hydro and solar reaching a record 34TWh from 1 October 2022 to 13 January 2023. Moreover, low carbon power sources made up over 60 per cent of Britain's electricity over the entire winter period, saving consumers more than £15bn in energy costs by shielding them from expensive fossil gas imports, according to analysis from RenewableUK . Share

IRENA: Global renewables capacity grows a record 9.6 per cent

By the end of 2022, global renewable generation capacity amounted to 3372 Gigawatt (GW), growing the stock of renewable power by a record of 295 GW or by 9.6 per cent. An impressive 83 per cent of all power capacity added last year was produced by renewables. Renewable Capacity Statistics 2023 , released by the International Renewable Energy Agency (IRENA) shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fueled power generation. “This continued record growth shows the resilience of renewable energy amidst the lingering energy crisis”, IRENA’s Director-General Francesco La Camera said. “The strong business case of renewables coupled with enabling policies has sustained an upward trend of their share in the global energy mix year on year. But annual additions of renewable power capacity must grow three times the current level by 2030, if we want to stay on a pathway limiting global warming to 1.5°C.”
While many countries increased their renewable capacity in 2022, the significant growth of renewables is persistently concentrated in a few countries and regions like Asia, the USA and Europe. IRENA’s data finds that almost half of all new capacity in 2022 was added in Asia, resulting in a total of 1.63 Terawatt (TW) of renewable capacity by 2022. China was the biggest contributor, adding 141 GW to the continent’s new capacity. Renewables in Europe and North America grew by 57.3 GW and 29.1 GW respectively. Africa continued to expand steadily with an increase of 2.7 GW, slightly above last year. Oceania continued its double-digit growth with an expansion of 5.2 GW and South America continued an upward trend, with a capacity expansion of 18.2 GW. The Middle East recorded its highest increase in renewables on record, with 3.2 GW of new capacity commissioned in 2022, an increase of 12.8 per cent. La Camera added: “As energy demand is expected to rise in many regions of the world, the energy transition requires a step-change that delivers a strategic shift beyond the decarbonization of the supply side. Any expansion of new non-renewables capacity in light of recent global events must be connected to efforts to accelerate the energy transition to make the system more resilient, inclusive and climate-proof.”
Although hydropower accounted for the largest share of the global total renewable generation capacity with 1250 GW, solar and wind continued to dominate new generating capacity. Together, both technologies contributed 90 per cent to the share of all new renewable capacity in 2022. Solar capacity led with 22 per cent increase, followed by wind energy, which increased its generating capacity by 9 per cent. Technology highlights:
Hydropower: Renewable hydropower capacity increased by 21 GW (+2 per cent), an expansion consistent with recent years. Wind energy: With an increase of 75 GW (+9 per cent) in 2022, growth in wind power continued to slow compared to the previous two years. Solar energy: Solar photovoltaic (PV) power accounted for almost all the increase in solar power in 2022, with an increase of 191 GW in solar PV. Bioenergy: Expansion slowed slightly in 2022 (+7.6 GW compared to +8.1 GW in 2021). Geothermal energy: Geothermal energy increased by a very modest 181 MW. Off-grid electricity: Capacity grew by 1,237 MW in 2022 (+11 per cent) to reach 12.4 GW. Post navigation
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Record growth in wind power and solar despite the energy crisis

Despite the global energy crisis, renewables capacity worldwide increased by 9.6% in 2022, says a new report from the International Renewable Energy Agency. Published March 22, 2023
Listen to the article 2 min
This audio is auto-generated. Please let us know if you have feedback . Renewable energy capacity worldwide grew at a record rate in 2022, with nearly 295 GW added and renewables providing an “unprecedented” 83% of new energy worldwide, says a March 21 report from the International Renewable Energy Agency. Global renewable generation capacity stood at 3,372 GW by the end of the year. IRENA, a treaty organization with 166 members, said the increase was due largely to the growth of solar and wind power with the decommissioning of fossil fuel plants in several large economies. New solar installations accounted for 192 GW of the 295 GW added. “This continued record growth shows the resilience of renewable energy amidst the lingering energy crisis,” IRENA’s Director-General Francesco La Camera said in a press release. “But annual additions of renewable power capacity must grow three times the current level by 2030 if we want to stay on a pathway limiting global warming to 1.5°C.”
The addition of 295 GW increased global renewables capacity by 9.6%, IRENA says. The organization found significant growth of renewables is concentrated in Asia, the U.S. and Europe, with almost half of the new capacity added in 2022 in Asia – in particular China, which added 141 GW. Despite strong overall growth, wind installation has slowed, with 75 GW of wind added globally in 2022 versus the 111 GW added in 2020. In a foreword to IRENA’s report, La Camera wrote about the importance of modernizing the energy grid as renewable energy gets closer to accounting for half of total global energy capacity. “Many energy planning questions must be addressed to establish renewables as the most significant source of electricity generation - including in the context of grid flexibility and adaptation to variable renewable power,” he said.

Global renewable growth broke records in 2022, adding almost 295 GW: IRENA

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